Cyclopedia of the Law of Private Corporations, Volume 3Callaghan, 1917 - Corporation law |
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Common terms and phrases
acquired action aff'd aff'g after-acquired property authorized Bank benefit bondholders bonds C. R. Co Central Trust Central Trust Co charter claims corporate mortgages County court of equity creditors debt decree default defense Elec eminent domain equity erty estopped executed expressly Farmers federal courts Fidelity Trust Co foreclose foreclosure sale foreclosure suit franchises gage held holders Illinois infra interest International Trust Co Iowa land lease liable lien Loan & Trust Louisville Louisville Trust Co Mass mort mortgage covering mortgagor N. J. Eq N. Y. App N. Y. Supp Northern Trust Co officers Ohio St party payment poration power to mortgage priority purchaser purpose railroad company railroad mortgage real estate road secure statute stockholders supra tion trust deed ultra vires act ultra vires contract valid void York
Popular passages
Page 2693 - No court will lend its aid to a man, who founds his cause of action upon an immoral or illegal act. If, from the plaintiff's own stating or otherwise, the cause of action appears to arise ex turpi causa, or the transgression of a positive law of this country, there the court says he has no right to be assisted.
Page 2549 - In this and similar cases the legislature alone can, and indeed frequently does, interpose, and compel the individual to acquiesce. But how does it interpose and compel ? Not by absolutely stripping the subject of his property in an arbitrary manner ; but by giving him a full indemnification and equivalent for the injury thereby sustained.
Page 2496 - A prohibition simply upon the use of property for purposes that are declared, by valid legislation, to be injurious to the health, morals, or safety of the community, cannot, in any just sense, be deemed a taking or an appropriation of property for the public benefit.
Page 2591 - A contract of a corporation, which is ultra vires, in the proper sense, that is to say, outside the object of its creation as defined in the law of its organization, and therefore beyond the powers conferred upon it by the Legislature, is not voidable only, but wholly void, and of no legal effect. The objection to the contract is, not merely that the corporation ought not to have made it, but that it could not make it.
Page 2693 - ... own stating or otherwise, the cause of action appears to arise ex turpi causa, or the transgression of a positive law of this country, there the Court says he has no right to be assisted. It is upon that ground the Court goes; not for the sake of the defendant, but because they will not lend their aid to such a plaintiff. So if the plaintiff and defendant were to change sides, and the defendant was to bring his action against the plaintiff, the latter would then have the advantage of it; for...
Page 2591 - A contract ultra vires being unlawful and void not because it is in itself immoral, but because the corporation, by the law of its creation, is incapable of making it, the courts, while refusing to maintain any action upon the unlawful contract, have always striven to do justice between the parties, so far as could be done consistently with adherence to law, by permitting property or money, parted with on the faith of the unlawful contract, to be recovered back, or compensation to be made for it.
Page 2867 - Chapter provided, each stockholder, shall at every meeting of the stockholders be entitled to one vote in person or by proxy for each share of the capital stock held by...
Page 2514 - Private property shall not be taken for private use, except for private ways of necessity, and for drains, flumes or ditches on or across the lands of others for agricultural, domestic or sanitary purposes.
Page 2545 - ... if the government refrains from the absolute conversion of real property to the uses of the public it can destroy its value entirely, can inflict irreparable and permanent injury to any extent; can, in effect, subject it to total destruction without making any compensation, because, in the narrowest sense of that word, it is not taken for the public use.
Page 2495 - We think it is a settled principle, growing out of the nature of well ordered civil society, that every holder of property, however absolute and unqualified may be his title, holds it under the implied liability that his use of it may be so regulated, that it shall not be injurious to the equal enjoyment of others having an equal right to the enjoyment of their property, nor injurious to the rights of the community.